KFH forecasts 9.5% growth in GCC banking sector loans
- Middle East: Sunday, September 02 - 2012 at 09:35
Kuwait Finance House (KFH) has forecasted GCC banking sectors' loans to grow 9-9.5% in the current year, with a varying growth rates among member states, Kuna has reported. KFH attributed the growth to several positive factors including the strong growth in GCC gross domestic product, the huge government spending to stimulate the economy, and the growing role of banks in financing development projects. Qatari banking sector's achieved the highest rise in loans, with a 35.9% hike, followed by Saudi one with 15.1%. Kuwaiti was ranked third with a 4.4% growth, the highest rise for loans of Kuwaiti banking sector in two years.
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